The National Stock Exchange (NSE) is set to revise the framework for its pre-open market session from Sept 7, bringing the order collection and price discovery process closer to the mechanism used during the Closing Auction Session. While the pre-open session will continue to operate from 9:00 am to 9:15 am, the exchange is changing the manner in which orders can be placed and matched during the 15-minute window. The revised framework is aimed at making the pre-open auction process more structured and strengthening the process of price discovery at the start of the trading day. What Is Changing In NSE Pre-Open Session? Under the revised framework, market and limit orders will be permitted only during the first five minutes of the pre-open session, from 9:00 am to 9:05 am. From 9:05 am to 9:10 am, only limit orders will be allowed. The order matching process and determination of the opening price will then take place between 9:10 am and 9:12 am. This represents a shift from th...
Puducherry's Cyber Crime Police have uncovered a large-scale cyber-fraud network allegedly operated from inside an engineering college, turning it into what investigators call a "hotspot for cyber crime." The racket, linked to a Rs 90-crore scam, involved students selling bank accounts of friends and classmates to cyber-criminals who allegedly laundered the money through India before converting it into cryptocurrency via networks in Dubai and China.
The case broke after two engineering students, Dinesh and Jayapratap, approached the police when their bank accounts were suddenly frozen. They had handed over their account details to their friend Harish - now an accused - who had allegedly collected details of over 20 bank accounts from students and members of the public. These were used as "mule accounts" to park scam proceeds. Investigators say at least Rs 7 crore was withdrawn through these accounts.
Seven persons - including four engineering graduates - have been arrested so far: Thomas alias Hayagriva, Harish, Ganesan, Govindaraj, Yashwin, Rahul and Ayyappan. Police seized Rs 5 lakh in cash, 171 cheque books, 75 ATM cards, 20 mobile phones, laptops, computers, several bank passbooks, credit cards and a Hyundai Verna car.
A key accused, Ganesan, allegedly coordinated with cyber-criminals in China to convert withdrawn funds into cryptocurrency, sending them via Telegram in exchange for commissions.
Speaking to NDTV, Puducherry's Senior Superintendent of Police (Cyber Crime) Nithya Radhakrishnan, IPS, said the arrests mark a breakthrough not just against the "mules" but against those enabling online fraudsters. "We have been able to apprehend those who were laundering money for cyber-criminals, not merely the account holders. This shows how organised and international these networks have become," she said.
She warned that sharing bank credentials, even with friends, could have serious legal and financial consequences.
The Puducherry Police have reiterated their appeal to the public not to share bank account details, ATM cards or online banking credentials with anyone, and never allow others to operate their accounts.
from NDTV News- Special https://ift.tt/NSVrc9x
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